Source: Telegraph
Portsmouth price cut as club desperately seek buyer
The club's debts are estimated at £40 million, but Storrie says that Portsmouth are now close to balancing the books at the end of a transfer window that saw both Lassana Diarra and Jermain Defoe leave. [LNB]Current owner Alexandre Gaydamak is understood to be in negotiations with two potential new owners following the breakdown in talks with former Tottenham defender Ramon Vega. [LNB] Related ArticlesCrouch turns up volume at Fortress FrattonHarry Redknapps move to Tottenham suggests financial concerns at PortsmouthPortsmouth on brink of financial ruin as Alexandre Gaydamak looks to sell upSven-Goran Eriksson could combine Portsmouth and Mexico rolesTony Adams given dreaded vote of confidence at PortsmouthPortsmouth manager Tony Adams insists he is going nowhere"It's been a nightmare," said Storrie. "From when Sacha told me he couldn't put any more money in and had to sell, we were really working on keeping the club going. [LNB]"We had £12.5m left to pay on transfer deals and had to sell players. We're operating on our income and it wasn't adding up. [LNB]"We're close to having balanced books now and we don't have to sell players this summer, but if we don't get a new buyer by next season it doesn't bear thinking about." [LNB]Storrie, though, was again dismissive of Vega's takeover proposals. [LNB]"We laughed him out of the city," he said. "It would have been an unmitigated disaster." [LNB]The FA Cup holders also claimed that Vega did not provide satisfactory proof that he could finance a proposed deal. [LNB]Vega has been taken aback by Portsmouth's claims, believing negotiations had not reached a stage where there had been any request for proof of funding. [LNB]The former Switzerland international, 37, has moved into property management since retiring in 2003, but is understood to have put forward a proposal that would have taken over the club's debt. [LNB]
